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20121104
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CNBC
Oct 29, 2012 3:00pm EDT
and local officials. the rest of the federal government here in washington is closed today. that includes the department of labor. however, folks at department of labor the bls is working hard on friday he's jobs report. the last one before election day. much anticipated. here's a statement we have from the department of labor. they say employees at bureau of labor statistics are working hard to ensure the timely release of employment data on friday, november 2nd. it's our intention friday will be business as usual recording the october employment situation report. no guarantees from the department of labor they're get this report out by friday because their workers are scatter add cross the region right now but they say their intent is to get it out. how could that affect the actual report itself? experts say in terms of the storm's impact in the last couple of days of the month, what you might see is an impact a little bit on hours worked, but not necessarily on the overall employment situation. it's mostly a question now of whether the staff can gather that data, get it into t
CNBC
Nov 1, 2012 3:00pm EDT
the home building around the country. commercial wasn't so good. government wasn't so good. >> the ism was a little better. i want an asterisk next to everything. when i say better, it's not good. certainly better than the sub-50 we had the last couple months. manufacturing may be on the up swing. the regional surveys have not been that good. so the jury is out a little bit. we know we were on a down swing through the summer. we know we had a little bit of stability. now we've got to take that timing and put everything ahead. say, what's going on in the real economy? we were stabilized a little on the upswing. now we have to factor in sandy. that makes things unclear. >> 8:30 a.m. eastern time tomorrow morning. i know you guys will be there. ready to go tomorrow morning. >> see you then, guys. thanks. >>> meanwhile, this market still rallying, near the highs of the session ahead of the jobs report. bob is in the middle of the action. we got good jobs numbers this morning, bob. is that what this rally is about, or is it in anticipation of tomorrow? >> no, we're near the highs of tod
CNBC
Oct 31, 2012 3:00pm EDT
. and is sandy a case for big government? why some are using the superstorm to say big government really is better. we separate the fact from fiction of that argument. that's all ahead on this special edition of "the closing bell." customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. >>> all right, getting back to breaking news on netflix, herb greenberg is on the story. >> netflix shares up about 17% right now, they've been flying and just the recent 10, 15, 20 minutes news hit carl icon taken a 9.9% stake in the company. icahn has been buying the shares since early september and he's identified netflix because he believes it's undervalued in its dominant position and international growth prospects and it may hold significant strategic va
CNBC
Nov 2, 2012 3:00pm EDT
have homes. i think there will be a rapid response from the federal government. >> i'm just saying, we could use that money in other areas right now. not necessarily the bond buying program. just an observation. >> maria, i got say, i don't know if the bond buying is actually helping. we're seeing a lot of bond buying. i don't know where that money is going to. we see unemployment raising. >> is survey showed pick ups in demand for most classes in lending right now. so it has had a positive effect in a place where it could matter. we have seen in general some of the interest rates that matter go down in the economy, including mortgages. >> and a big uptick in housing. >> maybe not perfect, but it seems to have had an effect. >> do we anticipate the typical pickup in economic activity following a natural disaster of this magnitude here, ron? >> bill, listen, it's going to take a little while, just as it has during other periods of natural disasters. steve and i were talking before we came up. i think what we need to see is opposed to some sort of peace meal fixing of the infrastruct
CNBC
Oct 30, 2012 3:00pm EDT
much will it cost the government's disaster refund leaf fu -- relief fund, and is there enough to cover it? eamon javers is here with more. >> you can see a very swollen potomac river. you can see a lot of debris going down the river. we've seen entire trees floating by our position here. the potomac has stayed in its banks. over here, they have these massive 20-foot flood walls that were ready to roll in case the river breached its banks last night. so far, so good here. as for the federal government's response, we just had a conference call with fema. they have about $3.6 billion left in their disaster contingency fund. that's as of october 26th. they're also saying that president obama when he made that major disaster declaration for new jersey and for new york, he did that verbally. what that meant was they were able to cut through a lot of the red tape and move this process along and get the response going even before the disaster happened. they're also saying that fema is dispatching housing inspectors to go out and take a look at the claims. they want to avoid any kind of massive
CNBC
Nov 2, 2012 4:00pm EDT
adjustments the government has in place, it's a five-years process. they tend to overstate the second half jobs numbers and understate the first half. >> second half of the year? >> yeah. >> why? >> because they're ov overcompensating for what happens in 2008. the bottom fell out in 2008. they adjust up for that. 2010 was really strong. they're under in the first half. they're compensating for that. so that understates. >> in all of this, with all of these uncertainties and what we're faced with in the economy, on the heels of sandy, how do you want to allocate capital? what are you telling investors? >> well, in terms of where the liquidity is going, because we have these liquidity ways, i think you want to be in shorter duration assets if you're going to look at the fixed income markets. you have to believe rates are going to go up. then you have to look at equity groups. that's where the last waves go into the more risky assets. >> and you're seeing that? >> yes. >> all right. we'll leave it there. chip, good to have you on the program. jeff, rick, thanks very much. let's keep our focus
FOX Business
Nov 2, 2012 3:00pm EDT
huge. they have good intel and work with government that is our adopted tiger woods story. liz: what about to save face that mayor bloomberg puts it on the organization and let them say they back off? >> i do not have this from the mayor's office perpetrators are saying it is done. when that gets around this usually right. maybe in five minutes than there will say come hell or high water but they're usually right saying it is done. at first i thought it is good but logistically i hear anecdote evidence but tempers are short i had to walk up eight flights and pitch darkness and i am in good shape. i have three kids no heat heat, no hot water. >> you cannot tell what your car. you cannot because there is no electricity. if it turned on tomorrow by a con-ed. >> i know how to siphon yes. i used to do it. liz: i had to move my car. [laughter] >> i think it is done. liz: you said it first. it was a big week here are the "movers and shakers." her. >> goldman sachs was the most prestigious place to work on wall street for the most admired company taking ford and sears public. it was iconic a
FOX Business
Oct 31, 2012 3:00pm EDT
covered by government storm insurance. if we look at the most expensive storms, could this be worse than the isaacs and hurricane andrew >> in public opinion, it is not always clear what really caused the damage. people fight with their insurers for years. as a practical matter, the biggest flood risk and storm surge risk will come not from personal customers, but rather from commercial concerns. not that there is anyone who looks at this and says it will not be a manageable event, but if we are likely to get -- it will be a question of who will pay for this. liz: before we go, who do you think comes out a winner here? >> well, you know, we like allstate. if you look for some context, look at the group you had before. the industry has been doing well because they have been raising pricing. allstate is the easiest sort of long-term pricing recovery story because they have a substantial number of captivation. they sell only one product. allstate is able to push pretty substantial price increases through when they need to. that is the company good earnings. they have had a lot of momen
CNBC
Oct 31, 2012 4:00pm EDT
sandy make for an even better fourth quarter? and the politics of sandy. why government coming to the aid of those hit by the storm is now a rallying cry for bigger, more expensive government. that big debate and a lot more still ahead on "the closing bell." oh, just diagramming this accident with my state farm pocket agent app. you can also get a quote and pay your premium with this thing. i thought state farm didn't have all those apps? where did you hear that? the internet. and you believed it? yeah. they can't put anything on the internet that isn't true. where did you hear that? [ both ] the internet. oh look. here comes my date. i met him on the internet. he's a french model. uh, bonjour. [ male announcer ] state farm. more mobile than ever. get to a better state. >>> welcome back. we want to show you some shots of new jersey, one of the hardest hit states as a result of hurricane sandy. president obama in new jersey with governor chris christie touring some of the hardest hit areas of the state. is this brigantine, nng? this is certainly new jersey and we want to show you s
CNBC
Oct 30, 2012 4:00pm EDT
visions. one says that government should get out of the way and let the private sector do its job. one, the president's campaign, said government's important. at a time like this, people are reminded as clearly and as graphically as they can be how important government is, how important it is that fema does its job and the state of new jersey and governor christie and his people do their job and that andrew cuomo and mayor bloomberg do their job. so government matters. this brings that home to people. >> what about the idea that people are just upset? you've got millions of people still without power. you've got, you know, all of this cleanup going on. isn't there some truth to the idea that people are just not happy right now and they go against the incumbent as a result of that, for no other reason just because mother name impacted their lives? >> the people are smarter than that. as long as they see the relief efforts are moving quickly and that the president or governors or mayors are doing everything they can, they're going to appreciate those efforts. people are not -- we al
FOX Business
Oct 29, 2012 3:00pm EDT
been confirmed. the big government jobs report. scott, the last one before the election. >> that could have a big impact. but there's another thing we haven't really thought about here, wednesday is end of month. you can't keep these things shut for that long. we have end of month and jobs report. we will have to start getting things back on-line very soon. sandra: what do traders want to see ultimately the exchange do as far as trading is concerned? >> we would like to be open. it is also a good advertisement for open outcry, we're standing out here with these funny color jackets on but we want to make sure the public knows we're here and open for business. sandra: that's it. energy is still trading on the globe-ex electronically. only 45 minute break between 5:15 and 6:00 p.m. eastern time, that's still plan as scheduled. trading will begin in energy and gold market tonight. that is if the cme doesn't change things between now and then. we will keep everybody updated on that. liz: thank you very much. neil cavuto will have those globe-ex trades coming up tonight at 7:00 p.m. we have
CNBC
Oct 29, 2012 4:00pm EDT
primarily by the federal government. in concert with local and state governments. the federal government pays the bulk of the bill. and you have a large number of states. and my guess is, this is going to be extensive damage from a financial point of view, which federal government through fema, federal emergency management agency, et cetera, ultimately winds up paying for. state and locals pay a portion of it. but it's a small portion. i don't believe that's going to have a significant impact long term. the expenses diffused. it's not good for state and local governments because we're already under a lot of pressure but i think that's going to be manageable. and i don't think it's going to have a major impact. i just -- your question earlier on when do the markets get up and running and is there a delay, i think if there's an economic impact, that would be it. that's why the white house is concerned. i'm going to be reaching out to secretary geithner to make sure we're coordinated to everything we can to get wall street everything it needs to be operational as soon as possible
FOX Business
Nov 1, 2012 3:00pm EDT
with the government for such relatively low yields, you are not worried about something like that? >> not all of it, but think about it, they are only the negative correlated asset class to all the equities so you want to have that for the risk, it is balanced to your portfolio. do i only want governments? no, i like high yield and global bonds. bonds have been the bright spot -- in the past three years the best risk adjust return of any out there. liz: we kept look agent the yield of ten year treasury -- we kept looking at the yield of ten year treasury. there you have it. 1.72%. >> think about bonds, when we're coming to the end of the year, coming to the fiscal cliff, there's a lot of things going on, so i want to be in the equity markets, but as long as i have bonds, i have balance to protect the overall portfolio. liz: doug, it is good to see you. thank you very much for joining us. doug cote, ing u.s. chief market strategist. thank you very much. >> thank you. liz: closing bell ringing in justless than 7 minutes. i'm going to be tweeting whether i find gas many new jersey --
CNBC
Nov 1, 2012 4:00pm EDT
don't think the government on both sides has done enough to stimulate the economy and really create jobs in america. i'm glad to see the number go down it, but let's face it, we still have 14 million people unemployed. certainly so many people are being left behind and we need to do more. i also am very concerned about the states in which we have 42 of the 50 states facing a budget deficit. as a result of that, we're going to see cuts in social services. these are the kind of things that i hope whoever is elected president will be able to work with both sides and finally see the bipartisan cooperation that we need to lead the country out of the situation that we're in. as i said, my vote is for the president. >> all right. we'll leave it there. howard, good to talk with you. thanks so much. >> thank you. >> see you soon. howard schultz joining us at starbucks. let's get to bertha coombs with a market flash update. >> priceline beating the street on earn this afternoon. revenues topped expectations at $1.71 billion compared to $1.66 billion estimate. gross books up 25%. a lot of that
Search Results 0 to 13 of about 14